In Pune city, Indira IVF is teeming with patients ready to spend $1,300 on fertility treatments that few government hospitals offer, reflecting the huge demand for private health care sweeping India, fueled partly by the scary pandemic experience.
Spotting the trend, global investors are scouting the Indian market, and banking and industry sources counted at least nine healthcare chains that are currently in talks to sell stakes.
According to an investor source, it is looking to sell a majority stake valued at $1 billion, and global private equity firm General Atlantic was among the interested parties.Even in the world's most populous country, many couples need fertility treatment, which is why the Indira IVF chain has become an attractive proposition for potential suitors, as have other specialist healthcare providers.
But demand positively boomed in the aftermath of the COVID-19 pandemic, when India suffered one of the world's worst death tolls from the virus. Another specialty chain, Centre for Sight, is in talks to sell a stake at a valuation of $200 million, one industry source said. The eye care group did not respond to a request for comment.
Between 2019 and 2022 Apollo's average daily revenue per bed shot up by a third to $553. And during the same period, the number of annual outpatients rose by 65% to 6.8 million.
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